Medical Office Buildings with
New
For Sale
$1,500,000
325-329 S Main St, Canandaigua, NY 14424
Two-building property offers flexible clinical and office layouts with dedicated on-site parking.
Property Size10,321 SF
Lot Size0.42 Acres
Price / SF$145.33
Days on Market2
Property Features for 325-329 S Main St
General Information
Standard status
Active
Size
10,321 SF
Total Parking Spaces
26
Lot size
0.42 Acres
Property subtype
Commercial
Zoning
mixed-use
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$39,897
Building Details
Building Size
10,321 SF
Year Built
1925
Buildings
2
Stories
2
Abandoned
No
Listing Agency:
(585) 450-3100
Listed By:
Danielle M. Clement
(585) 450-3100
Source:
Elliman
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 9:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Danielle M. Clement
Investment Insights
Based on property information with market context.
This medical office property comprises two buildings totaling 10,321 square feet on .42 acres. The interior includes 21 patient and clinical rooms, six private offices, multiple reception and waiting areas, 9–10 workstation positions, break rooms on both floors, second-floor office and storage areas, and five bathrooms. Five furnaces, dedicated AC units, and a Fujitsu mini-split system create multiple HVAC zones for independent area control. Public gas, electric, water, and sewer serve the property, and the buildings were constructed in 1925.
The property at 325-329 S Main St in Canandaigua provides 100 feet of frontage along S Main Street, 26 dedicated parking spaces—including three ADA spaces—and six ingress and egress points. Mixed-use zoning supports medical, dental, professional office, multi-tenant, and owner-occupant applications. The site has a Bike Score of 50 and a Walk Score of 0.
The property at 325-329 S Main St in Canandaigua provides 100 feet of frontage along S Main Street, 26 dedicated parking spaces—including three ADA spaces—and six ingress and egress points. Mixed-use zoning supports medical, dental, professional office, multi-tenant, and owner-occupant applications. The site has a Bike Score of 50 and a Walk Score of 0.
Key Highlights
- 10,321 square feet across two buildings on .42 acres
- 21 patient and clinical rooms, six private offices, and 9–10 workstation positions
- 26 dedicated on‑site parking spaces, including three ADA spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$104,500
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,090,000
$2.1M
Cap Rate 7%
$1,492,857
$1.5M
Cap Rate 9%
$1,161,111
$1.2M
Market Conditions
NOI Build-Up for 10,321 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$185.8K $18.00/SF
− Vacancy
−$18.6K −$1.80/SF
EGI
$167.2K $16.20/SF
− OpEx
−$62.7K −$6.07/SF
NOI
$104.5K $10.13/SF
Area
Ontario County, NY
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,090,000
Cap Rate 7%
$1,492,857
Cap Rate 9%
$1,161,111
Alternative Uses
Best Use
Office B
$2.36M
$2.06M – $2.75M
NOI $165,194 @ 7.0% cap · market cap 11.01%
Second Best
Healthcare Medical
$2.04M
$1.78M – $2.38M
NOI $142,722 @ 7.0% cap · market cap 9.51%
Theoretical Best
Office A
$3.09M
$2.70M – $3.60M
NOI $216,246 @ 7.0% cap · market cap 14.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,124
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14424, NY
28,353
Population
14,482
Households
2
Avg Household Size
48
Median Age
41%
College-Educated
94%
High-School Grad
129.5 sq mi
ZIP Area
219
Density / Sq Mi
$79,135
Median Household Income
$45,885
Median Earnings
$1,228
Median Rent
$250,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-building property offers flexible clinical and office layouts with dedicated on-site parking.
Where is this medical office space located?
The property is located at 325-329 S Main St Canandaigua, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 10,321 square feet across two buildings on .42 acres; 21 patient and clinical rooms, six private offices, and 9–10 workstation positions; 26 dedicated on‑site parking spaces, including three ADA spaces
